KRNL Labs and Sig Network have announced a new cross-chain bridge that leverages MPC technology to enable instant, low-fee, and secure transfers of digital assets between blockchains. The bridge eliminates confirmation delays and removes the need for smart contracts on the destination chain, enhancing user experience and developer flexibility.
KRNL’s developer tooling matched with Sig Network’s MPC account abstraction allows for new infrastructure that eliminates delays, reduces fees, and expands interoperability among chains.announced a new cryptographically secured cross-chain bridge to enable seamless multi-chain interactions. The infrastructure built by KRNL Labs and Sig Network allows digital assets to move between blockchains instantly while reducing fees and removing confirmation delays seen in existing bridging solutions.
“The result of this exciting development between Sig Network and KRNL enhances cross-chain interactions by providing a cryptographically secure bridge that eliminates confirmation times and reduces fees, enabling truly seamless blockchain interoperability. There are millions of people who can begin using this technology immediately to improve their blockchain interactions,” said Tahir Mahmood, co-founder of KRNL.
The cryptographic bridge built by KRNL and Sig Network maintains security through distributed key management, unlike existing bridging technologies, which rely on third-party consensus mechanisms or messaging networks. No smart contracts are needed on the destination chain, as Sig accounts are used as “liquidity pools”. The only smart contract involved is the Near Protocol contract.
At the core of the system is the NFT Chain Keys mechanism, designed to generate multiple keys, each capable of managing numerous addresses. This approach enhances flexibility and scalability for dApps while streamlining user interactions. The feature allows owners to issue, revoke, and manage usage approvals for cross-chain transactions.
By creating a unified, cryptographically secure bridge capable of supporting any compatible blockchain, KRNL, and Sig Network offer developers the infrastructure to build the future of decentralized finance, gaming, and beyond, while minimizing risks, cutting costs, and reducing time to market for an entire new class of multi-chain decentralized applications.Labs was born out of a desire to address the fragmentation in Web3 and the inefficiencies of integrating existing solutions.
CROSS-CHAIN BRIDGE MPC BLOCKCHAIN INTEROPERABILITY CRYPTOGRAPHY SMART CONTRACTS
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